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Directorate change

After almost 25 years at 3i and three as Chief Executive, Michael Queen has announced his intention to leave the Company when a successor is appointed.

The Board has commenced a process to identify and appoint a successor as Chief Executive and will make further announcements as appropriate.

Chairman of 3i Group plc, Sir Adrian Montague, said:

"Michael has given tremendous service to 3i over many years. His leadership through the period of the global financial crisis in restoring 3i's financial strength, his founding of our highly successful Infrastructure business and the strong management team he has put in place are just three of his many achievements with the Company."

Michael Queen added:

"It has been a privilege to lead such an outstanding organisation as 3i. I am pleased that after a difficult period 3i is now well placed to achieve its full potential. Having restored 3i's financial strength the time is right for me to seek a new challenge and for 3i to appoint a new leader to build on this position."